European equity markets were set for a subdued open on Thursday as mounting geopolitical tensions weighed on risk appetite, while investors assessed fresh corporate updates. The US built up its military presence in the Middle East for a possible war with Iran, with President Donald Trump urging UK Prime Minister Keir Starmer not to transfer Diego Garcia to Mauritius. Meanwhile, peace talks between Ukraine and Russia concluded without a breakthrough. On the corporate front, Airbus said supply constraints for engines used in its A320 family continue to hamper production and deliveries. The planemaker nevertheless posted strong revenue growth and solid order intake for 2025, while providing upbeat guidance for the year ahead. Earnings are also due from Pernod Ricard, Repsol, and Renault, among others. In premarket trading, Euro Stoxx 50 and Stoxx 600 futures hovered near the flatline.